The Conference Board Employment Trends Index increased again in June for the eleventh consecutive month
The Conference Board Employment Trends Index increased again in June for the eleventh consecutive month. The index now stands at 96.7, up from Mayís revised figure of 96.1. The index is up 9.8% from a year ago.
ìThe weak growth in private-sector employment in the last two months has been disappointing, given the robust recovery in production in recent quarters,î said Gad Levanon, associate director, macroeconomic research at The Conference Board. ìThe moderate increase in the Employment Trends Index in the last two months suggests that many employers are now concerned that the recovery is losing momentum.î
This monthís increase in the index was driven by positive contributions from six out of the eight components. The improving indicators were: percentage of firms with positions not able to fill right now, number of temporary employees, part-time workers for economic reasons, job openings, industrial production, and real manufacturing and trade sales.
The index aggregates eight labor-market indicators, each of which has proven accurate in its own area. Aggregating individual indicators into a composite index filters out so-called noise to show underlying trends more clearly.